Lockheed Martin ( LMT +3.81%) stock gained for a second straight day Friday, rising 4.2% through 11:50 a.m. ET after Truist Securities analyst Michael Ciarmoli upgraded the defense giant to buy with a $605 price target, as StreetInsider.com reports.

Defense stocks including Lockheed Martin, Northrop Grumman and General Dynamics fell Wednesday afternoon after reports that President Trump is set to sign an executive order that will punish defense companies that repurchase stocks,

Lockheed Martin (LMT) +4.2% to a 52-week high $543.08 in Friday's trading, as Truist Securities upgraded shares to Buy from Hold with a $605 price target, raised from $500, saying Lockheed's FY 2025 underperformance coupled with attractive valuation creates a compelling risk/reward profile in 2026.

Shares in defense contractors such as Lockheed Martin and Northrop Grumman slumped Wednesday after President Donald Trump pledged to block the companies’ dividends, stock buybacks and what he described as “Over Compensation of Executives” until the sector speeds up its production and maintenance of military equipment.

In a pivotal seven-year deal, the Department of War partnered with Lockheed Martin to triple PAC-3 missile interceptor production.

The defense contractor said it plans to increase annual production of advanced Patriot missile interceptors from 600 to 2,000.

Lockheed Martin shares rose for a second straight trading session as global defence stocks responded to a mix of analyst actions, political statements, and policy signals from Washington. The move came amid heightened attention on defence spending,

The deal comes as the Defense Department seeks to overhaul its acquisition apparatus to prioritize speed and as top officials have promised industry steady demand signals — and bigger awards — if companies make deeper investments into developing new products and expanding infrastructure.

Lockheed Martin has delivered 191 F-35 Lightning II aircraft in 2025, breaking its previous record of 142 jets in a single year.

Lockheed Martin said on Wednesday it delivered 191 F-35 fighter jets in 2025 to the United States and its allies, a record for the program.

However, Constellation’s results beat Wall Street’s expectations. Adjusted earnings came in at $3.06 a share, while analysts expected $2.63 a share, according to FactSet. JPMorgan Chase is taking over the Apple credit-card program from Goldman Sachs.